From the course: Credit Secrets for Entrepreneurs

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Good credit score

Good credit score

From the course: Credit Secrets for Entrepreneurs

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Good credit score

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- With consumer credit, your credit report is created when you get an account that reports to one of the consumer credit reporting agencies. With business credit, it could start in several different ways. For example, Experian might pick up the fact that your business is incorporated in your state and use that to open a file. Dun & Bradstreet might also pick up state filing information and create what's called the DUNS number, even before you have accounts. This number is used to identify your business. If you do get accounts with companies that report to these business credit agencies, that could start your credit report as well. Many business owners ask me if their employer identification number or EIN, which they get from the IRS to identify their business for tax filing purposes is equivalent to their social security number for consumer credit. The shorter answer is no. You will probably have to provide an EIN on…

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